Dan Marsden, development director for Durkan Estates, commented: “The Exchange Bond® is ideal for buyers who don’t want to release savings and other capital investments, which may incur penalty fees, to secure a new build property. It is an easy, fast and convenient process that reduces the stress and anxiety associated with the exchange of contracts - especially if a chain is involved. From an investment point of view, buying off-plan has been seen as a good long-term investment and significantly cheaper than buying completed stock. Using an Exchange Bond®, first time buyers have time to save the money they need to pay the deposit and obtain a mortgage.”
